Kimco Realty (NYSE:KIM) Sets New 1-Year High on Analyst Upgrade

Kimco Realty Corporation (NYSE:KIM)’s share price hit a new 52-week high during trading on Friday after Morgan Stanley raised their price target on the stock from $23.50 to $24.00. Morgan Stanley currently has an equal weight rating on the stock. Kimco Realty traded as high as $24.01 and last traded at $24.0350, with a volume of 571188 shares changing hands. The stock had previously closed at $23.75.

Several other analysts have also issued reports on the company. Truist Financial upped their target price on Kimco Realty from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, March 23rd. Robert W. Baird set a $25.00 price target on shares of Kimco Realty in a research note on Friday, February 13th. Scotiabank boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 24th. Barclays reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Kimco Realty in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.73.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently bought and sold shares of KIM. Quent Capital LLC purchased a new stake in shares of Kimco Realty during the third quarter valued at approximately $27,000. Zions Bancorporation National Association UT increased its stake in shares of Kimco Realty by 270.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,049 shares during the period. City Holding Co. bought a new stake in Kimco Realty during the 3rd quarter valued at $30,000. Brown Lisle Cummings Inc. raised its holdings in Kimco Realty by 127.3% during the 4th quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 840 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Kimco Realty during the 2nd quarter valued at $37,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Stock Up 1.5%

The firm has a market cap of $16.26 billion, a PE ratio of 29.67, a PEG ratio of 1.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The company’s 50-day simple moving average is $22.89 and its two-hundred day simple moving average is $21.51.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, March 6th. Kimco Realty’s dividend payout ratio is currently 128.40%.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.